What Is The Difference Between Asset Tracking And Inventory Management?
Both asset tracking and inventory management can leverage barcode and RFID technology to speed up error-prone manual processes.

It is easy to get confused when try to explain two seemingly equal yet separate ideas. That is why it is so important to be careful in our words and make sure that we clearly describe our terms.

Without further discussions, let’s begin exploring the difference between asset tracking and inventory management .

Asset tracking

Asset tracking refers to tracking unique items of value. They are often called physical assets or fixed assets, and include an organization’s computers, furniture, and equipments. Assets often fall under capital expenditures, and there are a fixed number of assets at any given time.

Benefits of Asset Tracking

•Better manage asset data

•Maintain thorough and accurate asset records

•prepare and file reports quicker

•Easily manage change requests

•Automate asset transfers

•Maintain assets

Inventory Management

Inventory management systems help companies manage stocks of consumable items across a variety of environments. It refers to the tracking of internal supplies that are consumed by a business for its daily operations.

Benefits of Inventory Management

•Control theft

•Improve customer satisfaction

•Accurate financial management

•Product tracking

•Workflow Efficiency

•Inventory Control

Assets and inventory do infrequently cross over within the same enterprise. Both types of solutions are focused on improving resource optimization and reducing costs. Both asset tracking and inventory management are crucial applications for companies that are trying to contain costs and improve production.